Off-grid energy company Fenix International is providing a pay-out to employees, including customer service associates, sales managers, chefs and guards, under a unique inclusive employee ownership programme.
The ‘Fenix Flames’ programme extends benefits to employees in lieu of traditional company stock options.
As part of an employee benefits programme, the scheme was designed to offer a pay-out in the event of an acquisition or public listing.
Following the company’s recent acquisition by global energy company ENGIE, 350 employees based in Africa will now benefit as a result of the Fenix Flames programme.
African-based employees, including sales managers, call centre staff, support teams, chefs, cleaners and guards, will each receive a pay-out, with longer-serving employees receiving up to 2-5 times their gross annual salary.
Impacting African markets
The programme forms part of a mission to create long-term impact in the African market, where the average Ugandan earns as little as $1.50 (£0.90) a day, the company stated.
In offering a long-term vested interest in the business, it helps it to attract and retain the best talent.
Commenting on the development, the company’s CEO, Lyndsay Handler, said: “At Fenix, we believe that employee ownership is powerful. Fenix Flames drive the team to go above and beyond to achieve our long-term goals, to collaborate across traditional department lines, to operate with integrity and to achieve profitability.
“We spent over two years working with lawyers, investors and financial advisors to carefully craft the Fenix Flames programme and all of this hard work has paid off today.”
Denis Mutti, the company’s national sales manager, added: ” Only one in a million companies would do this in Africa.”
One employee, Carol Akello who is a chef at the company, commented: “It’s not everyday that one can get an opportunity to receive such a package. To date, I still can’t believe it. This money is going to bring a big difference in my life. The dreams I had only in my head can now be brought to life.”